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Charlie Munger called out fraud and delusion in crypto, days after Sam Bankman-Fried's FTX imploded. Warren Buffett's right-hand man said bitcoin and other crypto should never have been legal. He made the incendiary comments in a rare CNBC interview this week, just days after Sam Bankman-Fried's FTX exchange became the latest crypto player to implode. "It's partly fraud and partly delusion — that's a bad combination. I think that's totally crazy.
Historically, big dividend payments have been associated with just a couple of stock market sectors. Franklin Templeton fund manager Matt Quinlan says that's changed in recent years. But inflation and interest rates were extremely low during that period, and it seemed like the growth and spending could go on forever. In a market like today's that's defined by higher interest rates and inflation, which erode returns over time, a solid dividend yield can give buyers a real leg up. He's also run its $24.3 billion Rising Dividends Fund for three years, and its results have been particularly strong across his tenure.
Retail entered into a new normal in 2022 — one where shoppers returned to stores in droves. Nike, Walmart, and startups like Tradeblock are developing new ways for consumers to shop. But unlike pre-pandemic times, consumers are now looking at brick-and-mortar as an extension of retailers' online offerings, rather than a siloed part of the business. Some of the most innovative brands like Nike, Walmart, and startups like Tradeblock are developing new ways for consumers to shop in-store and online. Each is unlike the company's previous retail stores.
As 2022 fades, the question is what lessons supply chain pros will take with them into the future. As 2022 fades, the question has become: What will those supply chain professionals take with them into the future as stresses ease? See the full chainEarly in the pandemic, retailers desperate to fill the shelves quickly realized how little visibility they had into their supply chains. One place where the work of rethinking supply chains has already succeeded is Best Buy, according to Becca Meinz, the retailer's VP end-to-end supply chain strategy. Responsiveness is the aim of many supply chain innovators as we move past the worst pandemic shocks.
Early last month, members of Amazon's secretive in-house research lab, Grand Challenge, were called into an unexpected video meeting. Weibel announced 3 of the 5 projects Grand Challenge was working on would shut down, effective immediately. When other team employees wanted to collaborate with the team, they needed additional approvals from its leadership. Amazon Glow was among the Grand Challenge projects to be discontinued at the end of this year. Getting support promoting Grand Challenge projects was a challenge too.
Meet All the 2022 WSJ. Magazine Innovators
  + stars: | 2022-11-11 | by ( ) www.wsj.com   time to read: 1 min
Magazine celebrated eight trailblazing talents at its annual Innovator Awards, held November 2 at the Museum of Modern Art in New York City. See below to read each honoree’s inspiring story—featuring: Anitta, Jeanne Gang, José Andrés for World Central Kitchen, Maya Rudolph, Jenny Holzer, Anthony Vaccarello, Margot Robbie and Jony Ive. You can find videos about each of the Innovators here, and a recap of the awards gala here.
Nike alums lead numerous brands, including Lululemon, Allbirds, Columbia Sportswear, and The North Face. Tim Sheerin, the senior vice president of global wholesale at Columbia Sportswear, at an investor day event this year. The trend has accelerated in recent years, with competing sportswear companies including Lululemon and Allbirds opening offices in Portland, Oregon. While sportswear companies are a natural fit for former Nike executives, nonathleticwear companies also have hired from Nike's top ranks. Crocs, which named the former Nike vice president Emma Minto the senior vice president of the Americas in 2020, also has been on a hot streak.
Airbnb CEO Brian Chesky counts former Apple design chief Jony Ive as one of his closest advisers. The pair talk almost every day and Ive weighed in when Airbnb was mulling job cuts. "You aren't going to cut your way to innovation," Ive said, though Airbnb later axed 1,900 roles. Ive is now advising Chesky on everything from logo design to strategy, and since the onset of the pandemic, Chesky and Ive talk almost every day. When Airbnb started considering job cuts, Ive weighed in: "You aren't going to cut your way to innovation," he told Chesky at the time.
New York CNN Business —When will central banks stop raising interest rates? This week, the Federal Reserve is expected to increase rates by 75 basis points for the fourth time in a row. For some time, it was thought that 2023 would bring lower interest rates and a return to dovish monetary policy. Even the Federal Reserve appears confused about when it will stop rate hikes. A possible answer: Wall Street tends to favor big events, but the future of central bank policy may be more nuanced.
New York CNN Business —After spending months attempting to get out of his deal to buy Twitter, Elon Musk officially owns the hugely influential platform. Musk has said Twitter, under his leadership, would have more lenient content moderation policies. Unbanning Trump and other accountsBut the most striking early change could come from who is and is not allowed on a Musk-owned Twitter. Musk, for his part, has focused on bringing back one of Twitter’s most prominent former users: Trump. The same day he sent his letter to Twitter attempting to revive the deal, Musk was widely panned for comments he made on the platform about Russia’s invasion of Ukraine.
Kanye West's controversial Christian school has abruptly shut its doors, reports say. West, under fire over antisemitic comments, appeared to confirm the closure in a since-deleted Instagram post. Students at the $15,000-a-year school, Donda Academy, wear uniforms designed by Balenciaga. Donda Academy, an unaccredited Christian school, requires parents to sign non-disclosure agreements before students join, Rolling Stone reported. Students at the $15,000-a-year school wear uniforms made by Balenciaga and the rapper's own brand, Yeezy.
Build-to-rent communities skip the intermediary and go straight to the homebuilder. While typical single-family rental strategies, pioneered by Blackstone in the aftermath of the Great Recession, are inherently tied to the housing market, build-to-rent is not. In the eyes of private equity, there's no difference between build-to-rent communities and apartment blocks. If you value Cypress Bay as an apartment building, instead of a collection of homes, Fundrise got a good deal. Fundrise is still working on deals, Miller said, with a deal pipeline stretching out to 2025.
The unaccredited pre-K through 12th-grade school, Donda Academy, costs $15,000 per year to attend, Rolling Stone reported. In comparison, Donda Academy charges $15,000 per student, Rolling Stone reported, with about half of students receiving some sort of financial aid. Donda Academy, its principal, Brianne Campbell; assistant principal, Allison Tidwell; and sports director Shayla Scott did not respond to Insider's requests for comment. Tamar Andrews, an educational consultant for Donda Academy, confirmed to Rolling Stone that parents are asked to sign an "informal agreement" to enroll. "The process of Donda school is for the parishioners, for the attendees," Yusef told Rolling Stone.
Other recent investments include Bumble, Goop, Spring Health, Chief, Found, Daily Harvest, and Blueland. Recent investments include the sneaker-trading platform Tradeblock, which touts itself as an alternative to StockX and Goat. Recent investments include AnyDistance, Balanced, and Juna. Her recent investments include Calibrate, DUOS, Dutch, and Buffalo Market, a food distributor focused on plant-based and organic foods. Recent investments include pickleball products company Revolin, live-sports artificial-reality company Quintar, recovery products company Alleviate, and community cycling app Preem.
David Solomon is changing up Goldman Sachs divisions like he switches tracks. Goldman Sachs's third restructuring in four years comes as insiders have been questioning the direction that Solomon is taking the storied investment bank in. But first, read Dakin's rundown of who's up and who's down in the latest Goldman Sachs restructuring under CEO David Solomon. The Swiss bank's investment bank chief Christian Meissner is also set to leave the company in the coming weeks. Keep updated with the latest business news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief.
And he will also oversee a wealth management business that is now going to include portions of the consumer business, but wrapped in a wealth management offering. Both, according to Bloomberg's reporting, are being demoted to senior positions within Nachmann's asset and wealth management division. Stephanie CohenAnother executive thought by insiders to have lost some of her territory is Stephanie Cohen, the co-head of the consumer and wealth management division. Had Cohen been able to successfully helm the consumer and wealth management division alongside Tucker York, the currently discussed changes wouldn't have been needed, the people said. Cohen's co-head, York, will now return to his prior role of running the bank's successful private wealth management business.
Ark Invest's Cathie Wood believes innovators in DNA development are the most undervalued corner of the market. "I believe that today the genomic revolution is most misunderstood and underappreciated," Wood said at Morgan Stanley's AlphaCurrents Conference last week, according to a transcript provided by the bank. "The stocks in the last year, this growth stock bear market, has ravaged the genomic space. Ark Invest has a specific exchange-traded fund dedicated to this space: ARK Genomic Revolution ETF (ARKG) . However, the fund has wiped out half of its value this year as rising rates hit growth stocks particularly hard.
An employee works on the production line of semiconductor wafer at a factory of Jiangsu Azure Corporation Cuoda Group. China has stepped up investment into its chip industry in a bid to be self-reliant in crucial technology needed for electric vehicles, smartphones and more. U.S.-China tensions have pushed Beijing to be more self-sufficient, and that could be a good thing for innovators in China, according to an investment specialist at JPMorgan Asset Management. In the mid-1990s, Chinese companies were mostly mass market manufacturers of "commoditized goods," he added. "I think that the geopolitical tension you're talking about will just actually supercharge that — because China needs to do these things itself, and they will carry on with progress in that area."
How Elon Musk could change Twitter
  + stars: | 2022-10-06 | by ( Clare Duffy | ) edition.cnn.com   time to read: +7 min
Musk has said Twitter, under his leadership, would have more lenient content moderation policies. But the most striking early change could come from who is and is not allowed on a Musk-owned Twitter. Musk, for his part, has focused on bringing back one of Twitter’s most prominent former users: Trump. “There are exceptions … but generally permanent bans are a failure of ours and don’t work,” he said. The same day he sent his letter to Twitter attempting to revive the deal, Musk was widely panned for comments he made on the platform about Russia’s invasion of Ukraine.
2: The hosts don't know what they don't knowThe problem is, VC podcasts don't stick to the core issues of venture capital. 3: The hosts want us to believe what they don't knowThere's a shocking amount of this kind of drivel on the tech podcasts. This is what a good tech podcast should do: Use access to the best and most successful investors and innovators to illuminate the way Silicon Valley works. But that's not what matters in the world of tech podcasts. But after 40 hours of listening to tech podcasts, I feel kind of bad about it.
PREVIEWDelaware is now extending U.S. sanctions meant to punish Russia for its invasion of Ukraine to business ventures incorporated in the state. Blocked startups also can’t raise outside financing because they can’t amend their articles of incorporation in Delaware to issue new capital stock, according to several startup founders and their lawyers. Some startups have persuaded Delaware to restore their good standing after demonstrating that corporate officers no longer live in Russia. Blocked startups face other financial repercussions. It can’t proceed with expansion plans so long as it is blocked in Delaware, Mr. Zykov said.
After largely shopping online during the pandemic, people are returning to stores in greater numbers. Shoppers want the best of both worlds: the convenience of e-commerce and the excitement of experiences they can't get online. Now, retailers are balancing services they'd first rolled out as safety measures, like curbside pickup, with personalized shopping experiences and events. Making connections between stores and e-commerce is critical as shoppers browse in a variety of ways for the same transaction. Insider's retail team selected them based on nominations and our reporting on the retail industry.
Bill Gates discussed climate tech and the climate-focused Inflation Reduction Act on a podcast. Gates said he hadn't donated his fortune because "innovation is not just a check-writing process." "Well, innovation is not just a check-writing process — the cost is way greater than what anyone could fund," he told the Bloomberg Green reporter Akshat Rathi. "You've also said that we need to do everything we can to accelerate innovation," Rathi asked Gates on Thursday's podcast. Gates also pointed to the Inflation Reduction Act as a second example of how climate-tech innovation was "not just purely a financial thing."
Many layoffs have been at firms focused on mortgages and residential real estate services. Every segment of the real-estate industry, including proptech innovators that concoct new ways to buy and sell real estate and traditional mortgage brokers, is vulnerable to rising interest rates. The downsizing began in the mortgage industry with Better's Zoom layoffs at the end of last year. Some of the latest and notable casualties came from real estate marketplace giant Zillow, consumer lender Finance of America, and international vacation rental company Vacasa. Do you know of other real estate tech or mortgage-related layoffs?
Becca Meinz, the vice president of end-to-end supply chain at Best BuyBecca Meinz is the vice president of the end-to-end supply chain for Best Buy. Steve Lewis, the senior vice president of commercial strategy at GXOSteve Lewis is the senior vice president for commercial strategy at GXO. Kraig Foreman, the president of e-commerce at DHL Supply Chain North AmericaKraig Foreman is the president of e-commerce at DHL Supply Chain North America. Eduardo Vilar, the senior vice president of merchant solutions at AffirmEduardo Vilar is the senior vice president of merchant solutions at Affirm. Glen Sutton, the executive vice president at Ceva LogisticsGlen Sutton is an the executive vice president at Ceva Logistics.
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